How IoT will impact different industries

Today, people prefer to work and communicate online. Moreover, millions of devices, from specialized sensors to smart speakers and urban security systems, also work and «communicate» online. Taken together, this is the Internet of Things (IoT). This technology already has a tremendous impact on how we work and live. 

Examples of IoT applications include smart homes, smart cities, healthcare, industry, agriculture, transportation, and many other areas. Overall, IoT provides new opportunities for automation, optimization, and improvement of our lives. 

In this brief article, I would like to provide a few examples of how IoT impacts our everyday lives. 

According to the forecast of the SMA analytical company, by the mid-2030s, there could be 1 trillion devices and 100 million applications in the Internet of Things.  

1. Smart Home 

IoT applications and devices allow us to control lighting, temperature, security, and other aspects of our homes through smart devices. We can manage these devices through smartphone apps or voice assistants. 

For example, you can turn on the lights when you get home or set the heating system to the optimal temperature before you arrive. 

2. Healthcare & Medicine 

The fastest growth of IoT application is observed in healthcare. Firstly, clinics register patients, track medications, and automatically monitor the condition of patients using IoT. Secondly, the number of health-conscious individuals who love gadgets measuring physical activity, pulse, and weight is increasing. Thirdly, the internet is used to connect home medical devices that measure glucose levels, saturation, and blood pressure. 

Bespoke IoT development services even allow small clinics to create their own platform based on this technology and leverage its capabilities for business development. 

3. Transportation and Logistics 

IoT is used in smart city systems and vehicles to improve transportation safety and efficiency. For example, smart traffic management systems can regulate traffic lights and routes based on traffic data, enhancing road capacity and reducing congestion. 

4. Industrial Sector 

In the industrial sector, special sensors enable the monitoring of production processes for optimization purposes. This approach can help detect issues in real-time, improve energy efficiency, and prevent equipment failures. 

IoT sensors & tracking devices make it possible to stay on top of the assets & inventory in transit. The technology offer many advantages for logistics and transportation in the supply chain, such as visibility of real-time tracking, plus monitoring of the condition and status of shipments, vehicles, and other assets. 

5. Retail 

IoT brings new possibilities to the retail industry. Devices such as smart shelves and labels allow stores to track inventory in real-time, optimize inventory management, and provide personalized shopping experiences for customers. 

The global Internet of Things (IoT) in retail market size was valued at $42.38 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 28.4% from 2023 to 2030. – Grand View Research 

6. Agriculture 

Smart sensors placed in fields or livestock farms can warn about unfavorable conditions or diseases, enabling agricultural producers to take timely measures and increase production efficiency. 

The use of the Internet of Things (IoT) in agriculture has revolutionized the way farmers work and manage their farms. As example, they can be automate processes such as irrigation, thereby reducing the amount of water used in growing crops. This helps conserve water resources, which are becoming scarce in many parts of the world. 

7. Energy Sector 

In this industry smart sensors and intelligent alghorytms is used for monitoring and optimizing energy consumption. Smart meters and energy management systems allow users to track and control their electricity usage, as well as integrate renewable energy sources. 

/ Projected value of the global Internet of Things (IoT) in energy market from 2020 to 2025, image source: Statista / 

Through the connection of various devices to the internet and data exchange, we become more informed, efficient, and convenient in many aspects of our daily experiences.